The Walt Disney Company announced today it has agreed to acquire Lucasfilm and is planning Star Wars Episode 7 for 2015! This is following such big purchases as Pixar and Marvel Entertainment. Here is the full press release:

Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

"Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas," said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. "This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney's unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value."

"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next," said George Lucas, Chairman and Chief Executive Officer of Lucasfilm. "It's now time for me to pass Star Wars on to a new generation of filmmakers. I've always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime. I'm confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come. Disney's reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products."

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and "evergreen" Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney's global lines of business to build, further integrate, and maximize the value of this global franchise. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

The acquisition combines two highly compatible family entertainment brands, and strengthens the long-standing beneficial relationship between them that already includes successful integration of Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.

Driven by a tremendously talented creative team, Lucasfilm's legendary Star Wars franchise has flourished for more than 35 years, and offers a virtually limitless universe of characters and stories to drive continued feature film releases and franchise growth over the long term. Star Wars resonates with consumers around the world and creates extensive opportunities for Disney to deliver the content across its diverse portfolio of businesses including movies, television, consumer products, games and theme parks. Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made Star Wars one of the world's top product brands, and Lucasfilm a leading product licensor in the United States in 2011. The franchise provides a sustainable source of high quality, branded content with global appeal and is well suited for new business models including digital platforms, putting the acquisition in strong alignment with Disney's strategic priorities for continued long-term growth.

The Lucasfilm acquisition follows Disney's very successful acquisitions of Pixar and Marvel, which demonstrated the company's unique ability to fully develop and expand the financial potential of high quality creative content with compelling characters and storytelling through the application of innovative technology and multiplatform distribution on a truly global basis to create maximum value. Adding Lucasfilm to Disney's portfolio of world class brands significantly enhances the company's ability to serve consumers with a broad variety of the world's highest-quality content and to create additional long-term value for our shareholders.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.

Wow, damn! This is insane! I am all for it. Not that I could change things if I were against it. Things to ponder:

1- Dark Horse Comics...Will they be cut out of the Star Wars loop now, after decades of providing awesome comics? Disclosure: I am a huge SW Legacy fan. And that series was awesome.

Marvel is owned by Disney. Why would Disney/Marvel wish to have a comic competitor doing their comics now?

2- Hasbro...Doesn't George Lucas have a controlling share of Hasbro stock? Not sure what this means.

_________________'...because the minute a little girl is trampled by 100 teenage girls trying to get to Justin Beiber at the Tea Cups, you will be wondering why the hell we make poor Justin Beiber stand in a 30 minute line and create an unsafe atmosphere.'

IF (And I realize this is a big "if") everything stays on track, then 2015 will bring us Avengers 2, Justice League and Star Wars Episode 7.

There's going to be some happy theater owners.

Mike(They might need plastic surgery to wipe the smiles off their faces ...)

Well, I have far greater faith in Avengers 2 and Star Wars Episode VII(feels so good to type that last bit) than I do that JL movie. Everything I've read about WB's approach to it seems anti-successful and half-butted(for lack of a more precise word)

Anyway...Here's hoping for Mark Hamill to reprise his most famous character. I would love to see Jedi Grand Master Luke Skywalker up on the big screen. I'd love for Harrison Ford and Carrie Fisher too. But I'd really love to see a full-fledged Jedi Order with Luke at the reins. And Jaina Skywalker-Fel as well. I want a lot, actually

_________________'...because the minute a little girl is trampled by 100 teenage girls trying to get to Justin Beiber at the Tea Cups, you will be wondering why the hell we make poor Justin Beiber stand in a 30 minute line and create an unsafe atmosphere.'

The end of the world is coming sooner than I expected... Though I am not a huge Star Wars fan I did have great admiration for how much control Mr. Lucas retained for his creation... but now he has sold it... oh noes!!!! Next thing you know Disney will own Warner Bros., Paramount, Universal, Sony, Apple, Microsoft, The United States... and Canada (just kidding Canadians, you're too smart to get bamboozled by Disney.)

(BTW this post was mostly a joke, no offense intended) Oh and BTW, it is safe to say I am not a fan of Disney, even if they make some good Star Wars movies lol.

WB, I don't know how you're going to compete with Disney/Marvel/Pixar/LucasFilm.

Yeah WB pretty much only has LOTR, and DC now (and DC sucks now days.) And soon LOTR will be over, (The Hobbit) I imagine WB will be knocked off their throne very soon. Wait did they even have a throne?

Well, I have far greater faith in Avengers 2 and Star Wars Episode VII(feels so good to type that last bit) than I do that JL movie. Everything I've read about WB's approach to it seems anti-successful and half-butted(for lack of a more precise word)

Anyway...Here's hoping for Mark Hamill to reprise his most famous character. I would love to see Jedi Grand Master Luke Skywalker up on the big screen. I'd love for Harrison Ford and Carrie Fisher too. But I'd really love to see a full-fledged Jedi Order with Luke at the reins. And Jaina Skywalker-Fel as well. I want a lot, actually

I agree. Even if the JL movie gets off the ground there is no guarantee it wouldn't just be another Superman Returns or Green Lantern. I'm honestly not that optimistic.

I am really not in favor of giant comglomorates merging but this could actually be a good thing for the Star Wars franchise itself. Lucas was really doing a poor job handling it, The Clone Wars notwithstanding.